The following transaction developments occurred within the past week, beginning with the most recent.
1. A merger between Seton Health in Troy, N.Y., and Albany, N.Y.-based Northeast Health and St. Peter’s Health Care Services will result in a new health system with a new name: St. Peter’s Health Partners. The merger will be finalized late this summer and the new four-hospital system will begin actual operation later this year.
2. Ripon (Wis.) Medical Center is now a member of Agnesian HealthCare, based in Fond du Lac, Wis. The affiliation went into effect June 1.
3. Boston-based VA New England Healthcare System plans to bring Bedford (Mass.) VA Medical Center under its umbrella, if the national VA office approves the move.
4. Long Island College Hospital in Brooklyn, N.Y., is now officially part of SUNY Downstate Medical Center, also in Brooklyn. LICH is has been renamed the University Hospital of Brooklyn at Long Island College Hospital.
5. A Rhode Island judge has ruled that Boston-based Steward Health Care Systems can move forward with takeover negotiations of Landmark Medical Center in Woonsocket, R.I. The deal would be Steward’s first out-of-state acquisition.
6. The FTC has approved the sale of MedCath’s 55-bed Heart Hospital of New Mexico in Albuquerque to Albuquerque-based Lovelace Health System. Lovelace Health, which is owned by Nashville, Tenn.-based Ardent Health Services, will pay $119 million for the hospital.
7. Rochester, Minn.-based Mayo Clinic has announced plans to acquire 25-bed Queen of Peace Hospital in New Prague, Minn. The hospital and its clinics, which are based in New Prague, Belle Plaine, Le Sueur and Montgomery, will be renamed Mayo Clinic Health Systems once the deal is finalized July 1.
8. Morton Hospital and Medical Center in Taunton, Mass., has filed formal notice with the state attorney general’s office of its plan to be acquired by Boston-based Steward Health Care System. The acquisition would convert the non-profit hospital to for-profit status.
9. Angel Medical Center in Franklin, N.C., has entered a deal to be managed by Asheville, N.C.-based Mission Health. Reports say the arrangement is likely to be temporary as the two entities move towards a full merger.
10. Phoenix-based Maricopa Integrated Health System has partnered with the University of Arizona College of Medicine in Phoenix to become the school’s primary teaching, training and research hospital. The agreement is expected to take effect at the end of June.
Related Articles on Hospital Transactions:
7 Points on How Hospital Acquisition Strategies Have Changed
Hospital and Health System Transactions (May 2011)
4 Ways to Ensure a Successful Hospital Merger or Acquisition
